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1601 Dunn Avenue

Joe Rubin & Richard Shuster Purchase Multifamily Property In Jacksonville For $31.75M
SOLDMultiFamily

Joe Rubin & Richard Shuster Purchase Multifamily Property In Jacksonville For $31.75M

1601 Dunn Avenue & 5928 Firestone Road

$31,750,000

$56/SF

Building Size

565,154 SF

Asset Type

MultiFamily

Closing

Mar 1, 2024

AI

The multifamily property located at 1601 Dunn Avenue and 5928 Firestone Road in Jacksonville was sold for $31,750,000. This property spans 282,577 square feet and consists of 328 units, resulting in a price per unit of $96,799 and a price per square foot of $112.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $31,750,000
  • Units: 328
  • Square Footage: 282,577
  • Price per Unit: $96,799
  • Price per Square Foot: $112
  • Address: 1601 Dunn Avenue & 5928 Firestone Road, Jacksonville
  • Market: Jacksonville
  • Buyer: Joe Rubin & Richard Shuster - Southeast Property Group
  • Seller: Capital Property Partners
  • Brokers: Daniel Rahmani & Rubens Jourdan - Capital Property Partners

The buyer, Joe Rubin, and Richard Shuster of Southeast Property Group acquired the property from Capital Property Partners at the specified all-in price. The deal was facilitated by the brokers Daniel Rahmani and Rubens Jourdan from the selling entity, Capital Property Partners.

Players

Daniel Rahmani

Capital Property Partners

Broker

$184.9M

vol

12 deals

Broker

Jacksonville MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.50%

Cash-on-Cash

-0.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93